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The College Cost Reduction Act amends federal higher education law to increase transparency about college costs and student outcomes, modify federal student aid programs, and establish new accountability measures for postsecondary institutions. The bill requires standardized financial aid offer formats, expands college scorecard data, adjusts Pell Grant and loan limits, modifies loan repayment and interest rules, and creates new grant programs for student success. It also limits the Department of Education's regulatory authority and establishes alternative quality assurance mechanisms for accreditors.
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